Archives 2025

Analysis by Antonio Di Giacomo, Financial Markets Analyst for LATAM at XS

“The S&P 500 fell more than 1%, February 14, 2025, reaching the 6,005-point zone after releasing Consumer Price Index (CPI) data, which came in higher than expected. This report significantly reduced the Federal Reserve’s expectations of interest rate cuts, creating uncertainty in financial markets. Investors reacted with massive sell-offs, pushing the index to last week’s lows.

The year-over-year CPI stood at 3.0%, while the core CPI rose to 3.3%, both above forecasts. On a monthly basis, January 2025’s CPI increased by 0.5% versus the expected 0.3%, while the core CPI registered a 0.4% rise, exceeding the projected 0.3%. These figures reinforce the perception that inflation remains challenging for U.S. monetary policy. The price rise for essential goods and services also suggests persistent inflationary pressure.

The market had been anticipating potential interest rate cuts by the Federal Reserve to stimulate economic growth. However, the persistence of higher-than-expected inflation makes monetary easing in the short term more difficult. Investors now fear the Fed will maintain its restrictive policy longer than expected. This scenario generates increased volatility in financial markets, impacting the performance of other risk assets.

Federal Reserve Chairman Jerome Powell reiterated that while inflation is approaching the 2% target, it has not yet reached a level that justifies rate cuts. This message further heightened market concerns, suggesting that rate reductions could be delayed until late 2025, depending on economic data trends. Powell’s comments made it clear that the Fed needs to see more consistent signs of controlled inflation before shifting its stance.

The market’s initial reaction was a sharp decline, reflecting the impact of uncertainty surrounding monetary policy. However, as the session progressed, the S&P 500 showed signs of recovery, reaching the 6,050-point zone by the close of trading in New York. This behavior highlights market volatility and sensitivity to macroeconomic data. Despite the rebound, uncertainty persists, and further declines could occur in the short term.

Despite the partial recovery, the outlook remains uncertain. Investors may now focus on upcoming economic reports and statements from Fed officials, looking for clues on the future direction of monetary policy and its impact on markets. External factors such as labor market trends and geopolitical stability will also play a key role in shaping the stock market’s trajectory.

In conclusion, releasing higher-than-expected inflation data has caused market nervousness, affecting the S&P 500’s performance and dampening hopes for near-term rate cuts. In the coming months, uncertainty over future Federal Reserve decisions will remain a key factor in market developments. Investors must stay vigilant for new economic signals to adjust their strategies in an increasingly challenging environment.”

Jaipur, 14th February 2025: Jaipuria Institute of Management, Jaipur, successfully hosted the ‘Youth for India @ 2047’ International Youth Conference, an inspiring platform that brought together industry leaders, young achievers, and researchers to shape India’s vision for 2047.

The conference was graced by Devina Mehra, Chairperson, Managing Director and Founder of First Global, and recipient of Fortune India’s Most Powerful Women 2022, as the Chief Guest. On this occasion, Devina inspired the students and professionals, emphasizing that learning is the driving force behind Viksit Bharat. The conference also saw a keynote address by Suraja Kishore, CEO of BBDO India & TeamX for Mercedes-Benz, India, followed by engaging discussions with Kumara Raghavan, Head, Startups, AWS India and Monica Dubey, Head – Brand Management, Bajaj Allianz General Insurance Co. Ltd.

Speaking on this occasion, Dr. Prabhat Pankaj, Director, Jaipuria Institute of Management, Jaipur motivated the attendees and said that Viksit Bharat is built on the pillars of knowledge, innovation and the courage to unlearn and evolve. In the conference, 40 research papers were presented during the technical sessions, reflecting key perspectives on India’s economic, technological, and social advancements. A book titled ‘Viksit Bharat: Idea of India as a Developed Country’, published by Bloomsbury was also released.

A thought-provoking session on “From Forbes and Fortune: Stories Penned by Powerhouses,” featured Viraj Mithani, a Forbes India 30 Under 30 artist and founder of Carpe Arte, who shared insights on creativity and innovation. Attendees also participated in an insightful session on the theme ‘Creating a Life You Love,’ with Ashdin Doctor, Author of ‘One Habit a Day: 31 Habits to Transform Your Life’ and ‘Change Your Life: Small Actions, Big Results’. The Youth Achiever Session featured performances by renowned stand-up comedians Ravi Gupta and Vivek Samtani, who brought humour and inspiration to the gathering.

The conference concluded with Bollywood actor Vikram Kochhar leading an engaging discussion on “Breaking Barriers: Creativity, Confidence, and Career Growth,” inspiring students to embrace challenges fearlessly. The conference highlighted India’s roadmap to becoming a global powerhouse by 2047, emphasizing research, leadership, and youth-driven innovation. Dr. Daneshwar Sharma, Convener presented the vote of thanks. Dr. Ramzan Sama and Dr. Akash Dubey also co-convened this conference. The conference was attended and widely appreciated by individuals from leading corporations and academia, including students and professionals.

Pune, February: CITTA, the premium skincare brand that won hearts with its gentle yet effective baby care products, has made a bold move into the adult skincare arena. This expansion is a revolution in conscious skincare, meticulously crafted for the unique needs of Indian skin. Rooted in the Sanskrit word  consciousness, CITTA has always been about mindful formulations that prioritize purity, efficacy, and transparency. Now, recognizing a gap in the market for high-performance skincare designed for India’s hot and humid climate, the brand is bringing its expertise in gentle yet potent formulations to adults. This is skincare, reimagined for the modern Indian consumer.

“Indian skin is naturally resilient but prone to concerns like hyperpigmentation, dehydration, and environmental stressors. And so, we’ve formulated each product with these skin-related concerns in mind. CITTA’s game-changing adult skincare range is thoughtfully formulated to tackle these concerns head-on, combining the healing power of nature & science,” says Akanksha Sharma, CEO & Co-Founder, CITTA. “Our approach isn’t about quick fixes, it’s about long-lasting, effective skincare,” adds Tanay Sharma, COO & Co-Founder, CITTA.

Available across multiple retail channels, both online and offline, CITTA’s skincare range is crafted for individuals aged 18-45 years who are looking for effective solutions tailored to Indian skin. What makes this range special? Each product is powered by a carefully curated blend of ingredients that deliver visible results without compromising skin health. Natural ingredients like Centella Asiatica, Saffron, Aloe Vera, Pomegranate, and Ashwagandha are all celebrated for their healing, brightening, and rejuvenating properties. Additionally, CITTA has also carefully blended science-backed actives like AQUAXYL™, Hyaluronic Acid, Ceramides, and Niacinamide in its formulations that work synergistically with natural extracts to deeply nourish, hydrate, and restore skin. The range includes products with unique textures, such as the Aqua Boost Face Gel for women and men, India’s first frosted-texture gel. It delivers a luminous matte finish with 5x hydration power. Another product, the CITTA Cica Face Scrub for tan and dead skin removal, is India’s first clear frosted-texture face scrub.

Love is in the little things—the quiet gestures, the thoughtful moments, and the subtle ways we say, “I’m here.” Inspired by these everyday acts of love, Shaya by CaratLane introduces its adorable new Valentine’s collection, a heartwarming tribute to the love that surrounds us. Whether it’s a best friend who remembers your coffee order, a partner’s small yet meaningful gestures, or the warmth of self-love, this collection captures it all—because love is found in the smallest of moments.

Designed to jingle with every move, each piece in this collection reimagines the charm of timeless Swiss bells into romantic, wearable treasures. Crafted in high-polish 925 silver and delicately kissed with soft pink and lavender enamel, these heart-shaped beauties add a playful yet elegant touch to everyday love stories. With 49 stunning designs, this collection is a perfect way to celebrate love in all its forms—be it for yourself or someone special.

Shaya makes it effortless to gift a piece of love that lingers. Whether it’s a dainty pendant, charming earrings, or a statement ring, each piece is a reminder that love is always around us—in every hug, every smile, and now, in every delicate jingle. This Valentine’s, wear love your way!

Paytm Money, a wholly-owned subsidiary of One97 Communications Limited (OCL) and a leading wealth-tech platform that simplifies wealth management and equity investments through a technology-first approach, has announced the appointment of Shri Rajeev Krishnamuralilal Agarwal as an additional Non-Executive Independent Director on its Board. Shri Agarwal will also serve as a member of the Audit Committee as well as the Chairperson of the Risk Management Committee and the Corporate Social Responsibility (CSR) Committee at Paytm Money.

Shri Agarwal brings more than 40 years of valuable experience, including a distinguished 28-year tenure with the Indian Revenue Services. During his time as a Whole-Time Member of SEBI, he played a pivotal role in driving key market reforms, including the revival package for the mutual fund industry in 2012 and the landmark merger of the Forward Markets Commission with SEBI in 2015. He also spearheaded major initiatives such as enhancing transparency through IPO reforms, introducing the offer-for-sale mechanism for PSU disinvestment, and championing the growth of the SME exchange, which significantly expanded funding opportunities for small businesses and startups.

In addition to his role as a Non-Executive Independent Director on the Board of Paytm Money, Shri Agarwal currently serves on the board of One97 Communications (Paytm) as well. He holds key positions as Chairman and Independent Director at Trust Mutual Fund, and as Independent Director at ACC Ltd., Star Health Insurance, UGRO Capital Ltd., and MK Ventures Capital Ltd. His wealth of experience will bring invaluable insights and guidance to Paytm Money, strengthening its commitment to innovation, transparency, and investor empowerment.

Rakesh Singh, CEO – Paytm Money said, “Our mission is to democratize access to financial markets and simplify the investment journey for millions of Indians. Having made significant strides in enhancing our governance framework, we continue to innovate and expand our investment offerings. With Shri Agarwal’s deep expertise in governance and risk management, we are confident that his guidance will further strengthen these efforts and drive long-term, sustainable growth.”

Shri Agarwal joins the illustrious Board of Paytm Money, which also includes the likes of Shri Narasinganallore Venkatesh Srinivasan and Mr. Cyrus Khambata, both of whom bring over 4 decades of experience in banking, capital markets, finance, and risk management. With these veterans on the Board strengthening the Company’s governance, Paytm Money remains committed to drive compliance-first innovation in wealth-tech.

The platform also offers ‘Margin Pledge,’ allowing traders to use their stock holdings for leverage in trades, along with the Pay Later (MTF) facility for further leverage. The platform has expanded its range of services, including the launch of BSE Futures & Options (BSE F&O) trading, enabling traders to trade SENSEX and BANKEX Option contracts. Recently, the company launched a major revamp of its app, designed to make investing simpler and more seamless than ever. The redesigned app offers a more intuitive interface, personalized dashboards, and smarter tools to empower investors at every stage of their journey. With enhanced portfolio insights, smoother transaction flows, and actionable dashboards for Stock and F&O trading, the upgraded experience caters to the evolving needs of today’s investors, making informed decision-making easier and more efficient.

New Delhi, 14 February, 2025: In a focused effort to enhance skilling and employability for neurodivergent youth, Nasscom Foundation, in collaboration with MathCo, a global leader in Enterprise AI and Analytics has launched Data Annotation Skill Development Program for Neurodivergent Youth. The initiative aims to skill neurodivergent individuals with specialised, job-specific training in data annotation which is a highly sought-after skill in the fast-growing field of Artificial Intelligence (AI) and Machine Learning (ML).

What makes this inclusion program special is the focus on providing employment opportunities for the neurodivergent individuals. The program focuses not only on providing participants with specialised training in data annotation but also equipping them with soft skills, mentorship and building confidence to enhance their employability and support their long-term career success.

Through a strong post-placement intervention, it also seeks to assist organizations in continuing to provide neurodivergent youth with a supportive and inclusive environment. This promotes a more diversified workforce, career advancement, and job retention while also aiding in the development of an inclusive culture.

The launch event, held on 12th Feb 2025 at MathCo’s Bangalore office, celebrated the power of inclusivity and the potential of neurodivergent individuals in the corporate sector. The event was attended by over 75 people, including those joining online via Zoom. Attendees included the MathCo team led by Aditya Kumbakonam, Chief Operating Officer and Cofounder, the Nasscom Foundation team led by Roy C Thomas, Orchvate representatives, program beneficiaries, and their parents. The launch event underscored the program’s intended impact: empowering neurodivergent youth and providing them with the skills to thrive in the tech industry.

Commenting on the collaboration, Jyoti Sharma, CEO, Nasscom Foundation, said, “We believe that a truly inclusive India begins with creating accessible and empowering environments. We are proud to launch this initiative in collaboration with MathCo, as we believe that Neurodivergent individuals bring unique strengths that drive workplace innovation, and as organizations prioritize inclusivity, this initiative will help them build sustainable and diverse workplaces.”

At the launch of the program, while wishing the 50 individuals good luck, Aditya Kumbakonam, COO and Cofounder, MathCo said, “At MathCo, we believe that learning is the first step toward empowerment, and continuous learning is key to staying ahead in an evolving world. I am confident that these young individuals will not only make the most of this opportunity but will also continue to grow and adapt as they build their careers.”

The Nasscom Foundation – MathCo collaboration led initiative will train 50 neurodivergent individuals, requiring a foundational level of education. To ensure that the program is tailored to the specific needs of the Neurodivergent community, we have also partnered with Orchvate, experts in training and coaching neurodivergent youth to leverage on their insights in skilling neurodivergent individuals. The training would run in two phases, each consisting of 25 participants. Participants will undergo assessments, receive specialised data annotation training and earn industry-certified certification to enhance their career prospects.

This initiative will provide neurodivergent youth with a very critical and relevant skill of data annotation. Data Annotation entails labelling or tagging data with relevant information to create high-quality training datasets for machine learning-based AI models. It forms the foundational layer for AI applications so that the machines can understand, interpret and process various types of data. This skill is essential for the continued growth and accuracy of AI systems across various use cases and industries and hence is in demand.

Chandigarh, 13th February 2025: The Aerospace business of Godrej & Boyce, a part of Godrej Enterprises Group, is strengthening its commitment to India’s self-reliance vision through signing of multiple significant MoUs during Aero India 2025 at Bengaluru to support national programs backed by the Government of India. A Memorandum of Understanding signed with the Aeronautical Development Agency (ADA), Ministry of Defence, GoI marks a crucial step forward in Indigenous manufacturing of flight control actuators for India’s Advanced Medium Combat Aircraft (AMCA) program.

This MoU builds upon Godrej’s two-decade-long partnership with ADA in developing components for flight-critical DDV-based servo actuators and associated functional elements. This collaboration represents a significant advancement in India’s journey toward self-reliance in critical aerospace technologies. Under the MoU, Godrej Enterprises Group will undertake comprehensive development of Flight Control Actuators for AMCA, including precision manufacturing, procurement of aerospace-grade raw materials, assembly and testing, and development of test rigs for qualification tests.

The business is transitioning from ‘Built to Print’ to ‘Built to Spec’ capabilities while embracing transformative technologies like 3D printing to revolutionize its manufacturing processes and design capabilities. This advanced technology enables the creation of complex components in a single printing process, eliminating multiple traditional production stages and significantly improving operational efficiency. The business is also accredited by DGAQA, DRDO labs, ISRO centers, HAL, BDL, BEL, and other leading global aerospace firms like Boeing, GE Aerospace, Honeywell, IAI, Parker Aerospace, Rafael, Rolls-Royce, and Safran.

Maneck Behramkamdin, Senior Vice President and Business Headof the aerospace business of Godrej & Boyce, a part of Godrej Enterprises Group, said, “This partnership exemplifies our commitment to Atmanirbhar Bharat in the aerospace sector. We are proud to be at the forefront of India’s aerospace revolution, turning the vision of Atmanirbhar Bharat into a reality through cutting-edge engineering and precision manufacturing. We continue to enable and elevate India’s manufacturing capabilities and competitiveness at a global level.”

At Aero India 2025, the business is showcasing its comprehensive range of aerospace manufacturing capabilities. The exhibition highlights include advanced aero engine components such as fans, compressors, turbines, and shafts manufactured from exotic materials, demonstrating the company’s sophisticated machining capabilities. The display features precision-engineered tubes, ducts, and brackets, Titanium, Aluminum, and Stainless Steel, alongside indigenously manufactured Line Replaceable Units (LRUs) including actuators, nose-wheel steering manifolds, lubrication pumps, and uplocks. A working model of an Ejector Release Unit (ERU) for aircraft pylons and various carbon fiber composite parts designed for Unmanned Aerial Vehicles (UAVs) further demonstrates the company’s diverse expertise.

Chandigarh, February 13, 2025: ICICI Bank has announced the adoption of state-of-the-art technology to produce drinking water from atmospheric moisture as part of its commitment to enhancing the sustainability of its operations. The Bank has installed units to produce 8,000 liters of potable water a day from atmospheric moisture, benefitting 4,200 employees at five offices– one each in Bengaluru, Hyderabad, and Mumbai– and two in Chennai.

The units—known as Atmospheric Water Generators (AWGs)—utilize innovative technology to convert atmospheric moisture into 100% microbe-free, fresh, and clean drinking water. The process of condensation transforms water vapor into droplets, which then undergo multiple filtration processes. Essential minerals are added at the end of the process. The AWGs can produce water throughout the year as they can operate in a wide range of ambient temperatures (18°C-45°C) and relative humidity (25%- 100%).

Mr. Soumendra Mattagajasingh, Group Chief Human Resources Officer, ICICI Bank, said, “At ICICI Bank, we are committed to conducting our business sustainably and responsibly to reduce the impact of our operations on the environment. Our strategy for environmental and ecological conservation is led by the 4R (reduce, reuse, recycle, and responsible disposal) principle of environmental stewardship. It is estimated that the atmospheric moisture holds several times of the fresh water in all rivers on the planet. To leverage this renewable resource, we have installed the AWGs at our offices to convert water vapor into drinking water. This initiative reduces our dependence on packaged water, along with making good use of the atmospheric moisture.”

ICICI Bank continues to implement initiatives towards sustainability under the aegis of its ESG policy. The Bank has set a target of becoming carbon neutral in Scope 1 and Scope 2 emissions by fiscal 2032. Over 180 sites of the Bank covering 4.95 million sq. ft. are Indian Green Building Council (IGBC) certified, as of March 31, 2024. The ICICI Service Centre at Bandra-Kurla Complex (BKC) in Mumbai was declared ‘Net Zero Waste’ certified in fiscal 2024. Further, the Bank quadrupled its renewable energy consumption to 75.73 million kWh in fiscal 2024, compared to the previous year. It also planted 3.7 million trees since fiscal 2022 and created a water harvesting potential of 25.8 billion liters annually in schools and water bodies.

February 13, 2025 – New research from NTT DATA Inc., a global digital business and IT services leader, reveals that businesses are racing to adopt AI, yet a responsibility gap threatens to undermine progress. More than 80% of executives acknowledge that leadership, governance, and workforce readiness are failing to keep pace with AI advancements—putting investment, security, and public trust at risk.

The report, The AI Responsibility Gap: Why Leadership is the Missing Link, draws insight from more than 2,300 C-suite leaders and decision-makers across 34 countries, uncovering the urgent need for a leadership-driven mandate to align AI innovation with ethical responsibility.

“The enthusiasm for AI is undeniable, but our findings show that innovation without responsibility is a risk multiplier,” said Abhijit Dubey, Chief Executive Officer, NTT DATA, Inc. “Organizations need leadership-driven AI governance strategies to close this gap—before progress stalls and trust erodes.”

Key Findings: The AI Responsibility Gap is Widening
· Innovation vs. Responsibility is a Boardroom Battle – The C-suite is divided: One-third of executives believe responsibility matters more than innovation, while another third prioritizes innovation over safety; the remaining third rates them equally.

· Regulatory Uncertainty Stifles Growth – More than 80% of leaders say unclear government regulations hinder AI investment and implementation, leading to delayed adoption.

· Security and Ethics Lag Behind AI Ambitions – 89% of C-suite leaders worry about AI security risks, yet only 24% of CISOs believe their organizations have a strong framework to balance AI risk and value creation.

· The Workforce Isn’t Ready – 67% of executives say their employees lack the skills to work effectively with AI, while 72% admit they do not have an AI policy in place to guide responsible use.

· Sustainability Concerns Emerge – 75% of leaders say AI ambitions conflict with corporate sustainability goals, forcing organizations to rethink energy-intensive AI solutions.

The Leadership Mandate: Closing the AI Responsibility Gap
Without decisive action, organizations risk a future where AI advancements outstrip the governance needed to ensure ethical, secure, and effective AI adoption. Leaders must address:

1. Responsible by Design Principles – AI, including GenAI, must be built responsibly from the ground up and end-to-end, integrating security, compliance, and transparency into development from day one.

2. A Governance Imperative – Leaders must go beyond legal requirements and meet AI ethical and social standards using a systematic approach.

3. Workforce Readiness – Organizations must upskill employees to work alongside AI and ensure teams understand AI’s risks and opportunities.

4. Global Collaboration on AI Policy – Businesses, regulators, and industry leaders must come together to create clearer, actionable AI governance frameworks and establish global AI standards.

“AI’s trajectory is clear—its impact will only grow. But without decisive leadership, we risk a future where innovation outpaces responsibility, creating security gaps, ethical blind spots, and missed opportunities,” closed Dubey. “The business community must act now. By embedding responsibility into AI’s foundation—through design, governance, workforce readiness, and ethical frameworks—we unlock AI’s full potential while ensuring it serves businesses, employees, and society at large equally.”

Chandigarh, February 13, 2025: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, delivered a successive Q3 record in line with its focus on profitable growth. Some of the key highlights are as below:

• Achieved an all-time high Q3 net profit of Rs.762 Cr, an increase of 31% over the same period last year
•  Reported all-time high Q3 EBITDA of Rs. 1211 Cr (12.8%) vis-à-vis Rs. 1114 Cr (12.0%) in Q3 FY24, registering double-digit percentage EBITDA for the 8th consecutive quarter
•  Recorded all-time high Q3 revenues of Rs. 9,479 Cr vis a vis Rs. 9,273 Cr in Q3 FY24
•  Achieved export volume of 4,151 units in Q3 FY25 against 3,128 units in the same period last year, registering a growth of 33%
•  Turned cash positive at end of the quarter with net cash of Rs. 958 Cr as against net debt of Rs. 1747 Cr at end of Q3’FY24

Ashok Leyland’s domestic MHCV market share continues to be over 30%. The Company also has maintained market leadership in the Bus segment. Ashok Leyland recently launched SAATHI, its foray into the entry-level LCV segment, opening up a new customer segment, which was previously unaddressed. At the recently held Bharat Mobility Global Expo, Ashok Leyland showcased the concept of an industry-first electric Port Terminal Tractor as well as India’s first 15-meter bus with a front engine and capacity of 42 sleeper births. At the show, Switch displayed a concept electric truck in the 7.5T GVW range, again a first in the segment. The Defence, Power Solutions, and Aftermarket Businesses continue to perform well.

Mr. Dheeraj Hinduja, Executive Chairman, of Ashok Leyland, said “The steady progress we are making in profitability is backed by products that deliver superior performance coupled with robust customer engagement. Sales in international markets are showing strong growth, and we expect this momentum to accelerate with the launch of new products. I compliment the management and our team for delivering a record-breaking Q3 for the second year in a row. We are also continuing to invest in battery electric and alternate fuel products to maintain our technology leadership position. Switch has a healthy order book and has plans to come out with a series of products in the next 12 months.”

Mr. Shenu Agarwal, Managing Director & CEO, Ashok Leyland, added, “Relative to Q2, the MHCV market has revived significantly in Q3, and is expected to improve further as we enter the last quarter. Our focus remains on profitable growth through product premiumization, cost leadership, better service reach, and enhanced value-added services. Non-CV businesses have done well and offer more headroom for growth. We remain optimistic about the growth of the CV industry in the medium and long term as macroeconomic factors continue to be favorable.”